Forager Capital Management LLC lessened its position in shares of The Eastern Company (NASDAQ:EML - Free Report) by 93.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,741 shares of the industrial products company's stock after selling 226,272 shares during the quarter. Eastern accounts for 0.2% of Forager Capital Management LLC's portfolio, making the stock its 13th biggest holding. Forager Capital Management LLC owned 0.27% of Eastern worth $543,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EML. Segall Bryant & Hamill LLC purchased a new stake in Eastern in the third quarter worth about $1,667,000. Victory Capital Management Inc. purchased a new stake in Eastern in the second quarter worth about $1,190,000. American Century Companies Inc. purchased a new stake in Eastern in the second quarter worth about $632,000. Rhumbline Advisers purchased a new stake in Eastern in the second quarter worth about $134,000. Finally, Dimensional Fund Advisors LP increased its position in Eastern by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company's stock worth $9,838,000 after buying an additional 8,835 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company's stock.
Eastern Stock Performance
EML traded down $0.86 during midday trading on Wednesday, reaching $29.51. The company had a trading volume of 14,575 shares, compared to its average volume of 23,430. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $30.34 and a two-hundred day moving average of $29.18. The company has a market cap of $182.37 million, a P/E ratio of -29.49 and a beta of 0.99. The Eastern Company has a 1 year low of $19.35 and a 1 year high of $35.78.
Eastern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, November 15th. Eastern's dividend payout ratio (DPR) is -42.72%.
Eastern Profile
(
Free Report)
The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.
See Also
Before you consider Eastern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eastern wasn't on the list.
While Eastern currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
